FxPro - Analytics

FxPro

761.75 6.25/10
85% of positive reviews
Real

GBPCAD Wave Analysis 9 March, 2021

GBPCAD Wave Analysis 9 March, 2021

• GBPCAD reversed from the support level 1.7480

• Likely to reach resistance level 1.7660

GBPCAD recently reversed up from the support level 1.7480 (former low of wave (iv) from February) – intersecting with the lower daily Bollinger Band and 38.2% Fibonacci correction of the upward impulse from December.

The price will create the daily candlesticks reversal patter Morning Star – if the pair closes today near the current levels.

Given the clear bullish sterling sentiment seen today – GBPCAD is likely to rise further toward the next resistance level 1.7660 (previous minor reversal pivot).

GBPCAD Wave Analysis 9 March, 2021


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree